Freedom finance Final Response

woodymeg

Hi recieved email from freedom today letter also in post, basically saying that we signed everything stating that we had read and understood the terms and conditions of the 2 policies concerned. That we were told it was a single premium which was added to the 2 loans, but we didnt know any different until i came on this site didnt know there was any other way of doing this. Also they have said that when they spoke to my partner he told them that he would only be covered for 8 weeks sickness and accident with work, which is wrong as he has worked for them for 12 years and it has been 6 months worth of cover for as long as he can remember. They sent me 3 pages saying that we knew what we were getting into, actually the first loan they quoted was the wrong amount they said it was for £5000 when it was £10000. Regarding second loan which paid first loan off they state Quote "that prior to completion of loan, the lender spoke with you to ensure that you were happy to proceed with loan and insurance as laid out in credit agreement and accompanying documents". Alson that when we paid first loan off we should have got a letter from g e Money asking whether we wished to continue with the PPI or cancel it and recieve a rebate, if we didnt receive such letter we should contact them regarding this matter.
So really dont know where to go from here because reading over their letter it sounds as though we knew what we were doing and that they are very adament they are in the right and didnt mis sell any thing to us.
But they have offered £1000 as a goodwill payment also found quite strange that they added quote" This offer is subject to an agreement that the provisions set out in this letter are confidential to you and us and that neither party will disclose the fact or terms of any of the provisions of this letter to any person save as may be required by law"
Sorry its long winded but their letter was and would like some advise pls:o

marshallka

woodymeg wrote: »

Hi recieved email from freedom today letter also in post, basically saying that we signed everything stating that we had read and understood the terms and conditions of the 2 policies concerned. That we were told it was a single premium which was added to the 2 loans, but we didnt know any different until i came on this site didnt know there was any other way of doing this. Also they have said that when they spoke to my partner he told them that he would only be covered for 8 weeks sickness and accident with work, which is wrong as he has worked for them for 12 years and it has been 6 months worth of cover for as long as he can remember. They sent me 3 pages saying that we knew what we were getting into, actually the first loan they quoted was the wrong amount they said it was for £5000 when it was £10000. Regarding second loan which paid first loan off they state Quote "that prior to completion of loan, the lender spoke with you to ensure that you were happy to proceed with loan and insurance as laid out in credit agreement and accompanying documents". Alson that when we paid first loan off we should have got a letter from g e Money asking whether we wished to continue with the PPI or cancel it and recieve a rebate, if we didnt receive such letter we should contact them regarding this matter.
So really dont know where to go from here because reading over their letter it sounds as though we knew what we were doing and that they are very adament they are in the right and didnt mis sell any thing to us.
But they have offered £1000 as a goodwill payment also found quite strange that they added quote" This offer is subject to an agreement that the provisions set out in this letter are confidential to you and us and that neither party will disclose the fact or terms of any of the provisions of this letter to any person save as may be required by law"
Sorry its long winded but their letter was and would like some advise pls:o

Straight to FOS I would go woodymeg. They would not offer something for nothing in my eyes.

When was it you took the loan out again??

woodymeg

marshallka wrote: »

Straight to FOS I would go woodymeg. They would not offer something for nothing in my eyes.

When was it you took the loan out again??

Thanks for response feel abit down hearted really.
It was in 2005 so think they were covered. Do i ring the FOS or write to them.

marshallka

woodymeg wrote: »

Thanks for response feel abit down hearted really.
It was in 2005 so think they were covered. Do i ring the FOS or write to them.

Don't be downhearted woodymeg. I would download and fill in the complaints form here

http://www.financial-ombudsman.org.uk/consumer/complaints.htm


and also write to Freedom to say you are (that is if you are sure about not accepting their offer and I would not for sure if it were me but it IS your call!!) now taking it to the FOS for adjudication as you are adament you were missold.

Good luck and although it may take a while it should be worth it if you have a good case. Freedom are known for dismissing complaints from people on here but they have also been known to cave in too.;)

woodymeg

marshallka wrote: »

Don't be downhearted woodymeg. I would download and fill in the complaints form here

http://www.financial-ombudsman.org.uk/consumer/complaints.htm


and also write to Freedom to say you are (that is if you are sure about not accepting their offer and I would not for sure if it were me but it IS your call!!) now taking it to the FOS for adjudication as you are adament you were missold.

Good luck and although it may take a while it should be worth it if you have a good case. Freedom are known for dismissing complaints from people on here but they have also been known to cave in too.;)

Thanks I would prob accept if wasnt much difference but my claim for both loans equal around £7000, so £6000 is alot to lose, even though could use the £1000 now but think i should fight abit more. Will send the letter tmorra telling them that taking it further and will fill form out in morning.
Thank you x

woodymeg

woodymeg wrote: »

Thanks I would prob accept if wasnt much difference but my claim for both loans equal around £7000, so £6000 is alot to lose, even though could use the £1000 now but think i should fight abit more. Will send the letter tmorra telling them that taking it further and will fill form out in morning.
Thank you x

I am going to email freedom the letter as well as sending it out in post recorded delivery should i give them any time to respond or just go straight th FOS.

dunstonh

Over 90% of single premium PPI get upheld by the FOS. There is rarely any good reason to have single premium compared to monthly direct debit. Go to the FOS.

woodymeg

dunstonh wrote: »

Over 90% of single premium PPI get upheld by the FOS. There is rarely any good reason to have single premium compared to monthly direct debit. Go to the FOS.

Thanks im just really nervous about this and that i do it correctly as it is alot of money to us, and freedoms letter was very indepth and basically said they did everything right.

pinknico

Dont be nervous, you have a very good case.

woodymeg

pinknico wrote: »

Dont be nervous, you have a very good case.

Thank you, just spoken to freedom and told them that will be sending email and letter to say not accepting goodwill payment and taking it of FOS x:o

marshallka

Good luck on this one woodymeg. I wonder if they will cave before FOS look into it now?? They sometimes do so lets hope that it does with yours and keep us posted.;)